Procedural, Not Protective: How Guardian and Shield Exposed the Limits of Gatekeeper Accountability – WEBINAR

RMA Australia is pleased to bring you our third webinar for June 2026 – Procedural, Not Protective: How Guardian and Shield Exposed the Limits of Gatekeeper Accountability hosted by MinterEllison.

The 2024 collapse of First Guardian and Shield managed investment schemes was not the result of a single failure or a rogue actor. It was the product of an entire end-to-end value chain breaking down – quietly, incrementally, and without meaningful intervention – because the people and processes designed to prevent harm treated their roles as procedural rather than protective.

This session examines what went wrong and why it went unchecked for so long. Drawing on the Guardian and Shield matter as a detailed case study, the presenters will trace how gatekeeper accountability eroded across the value chain, from governance structures and compliance functions through to legal, risk, and executive oversight. The session then turns to what organisations must do differently: not through more rules or heavier process, but through a fundamental shift in how accountability is understood, assigned, and exercised at every level. Risk and Compliance professionals and executives will leave with a clearer framework for identifying where their own organisations may be exposed and what genuine protective culture looks like in practice.

FURTHER INFORMATION:-

About the Panel:-

Sharon Tumber, Executive Director, Risk and Regulatory Consulting, MinterEllison Consulting

Sharon is an Executive Director specialising in risk, compliance, and governance, with over 15 years’ experience across financial services, banking, insurance and superannuation in Australia and the UK. She works with senior executives and boards to design and embed practical risk and regulatory frameworks, supporting organisations through complex regulatory change and transformation. Her focus is on strengthening accountability, resilience, and performance in a rapidly evolving regulatory environment.

Amelia O’Neill, Senior Manager, Risk and Regulatory Consulting, MinterEllison Consulting

Amelia is a Senior Manager in MinterEllison Consulting’s Risk and Regulatory Consulting team. The is an experienced regulatory risk and compliance professional with a decade of experience spanning Australia’s key regulatory bodies (ASIC and APRA) and advisory consulting. She specialises in translating complex regulatory requirements into practical frameworks, with particular expertise in regulatory change implementation, risk frameworks, and risk governance (including the Financial Accountability Regime).

About the Moderator:-

Hannah Kane, Director, Risk and Regulatory Consulting, MinterEllison Consulting

Hannah is a Director in MinterEllison’s Risk and Regulatory Consulting team. She is a lawyer and experienced risk and compliance consultant with over 10 years’ experience advising on risk, compliance and regulatory change. She specialises in helping organisations navigate complex regulatory requirements, uplift governance, risk and compliance frameworks and implement practical, technology-enabled solutions.